Gold trading below its 200-day moving average

The continued strength of the dollar and stock market weakness has driven silver down by 6.5 percent and gold below its 200-day moving average for the first time since early 2009. Investors continue to reduce positions ahead of the New Year and even gold, which is expected to shine in 2012, is currently failing to stay immune from the selling. Next support is the September low at 1,533 which co-incides with the uptrend from the 2008 low.